Simple & Powerful PRICE ACTION Rules For Best Entries
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- เผยแพร่เมื่อ 9 ก.พ. 2023
- This video highlights one of the best scalping strategies that can be used in day trading. Whether you are trading forex, crypto or indices, this Scalping strategy will work incredibly well. This Scalping Strategy also works on any time frame and can turn into long term position holding.
Price action describes the characteristics of a security’s price movements. This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
The only people who know where the market is heading are institutions. They are the ones who make the market move and our job as a retail traders is to follow their footsteps and get the piece of their movement. As a price action trader you need to find the most profitable ways to enter trades. The highest probability setups are 2nd entries at the key entry points.
Date February 10 2023
2000 tick chart
S&P 500 ES Futures
21 bar EMA
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Thanks thomas, have a nice weekend!
I cant thank you enough for these videos. since ive been paying attention, learning and applying i have become profitable. pretty much life changing to say the least. thank you
Very infomative video and i recommend if first time anyone do not understand repeat this video again and again .❤🎉.
These are life changing videos for traders.appreciate
Thank you Thomas. Good trading day. Another excellent video.
Wow! First YT video that really managed to to explain price action they a way I understand. Thank You 🙏🏼
Thanks Thomas!
Super good video -- Thank you !!
This is a great video! Thank you!
Very helpful. Thank you so much😊
Thank you, Thomas! Entry after rejection is much more profitable than set an order limit at the targetted zone. 🎉🎉🎉
extreamey great video sir. thanks
This fits like a glove to my level of development. Thank you!
Thank you Thomas
Great chart lesson
Cheerz
Thank you Thomas
Great video, thanks!!
Great video❤🎉
Thank you so much Thomas for making these videos. Every time I look at the charts now I have better understanding of what's happening with the price action!!
Good to hear! That is the goal of these videos.
A lot of the time (like near 18:45) those huge bars in either direction or series of fast price action up/down will leave imbalances, aka orders left behind by institutional money that were not filled, so you will often see price come back (the chop that shortly folllwed) to fill said orders before moving in line with the original price action.
Thanks!
Thank you! I am glad you find it helpful!
Great Video as always Thomas! I took that 2ES that you didn't mark at around 16:00 video time, i was in the wrong mindset because i was pissed off i missed the 2EL because i misread that the downtrend had a new extreme, so maybe i was justifying my entry, but the reason i liked it at the time is because if you watch the second bearish bar it went up and instantly reverse at the end, so i put a limit order a little bit behind i got filled in the third bearish bar and maybe by luck i got a quick 2 points, i also expected new low for the current downtrend so that was my reasoning at the time, but anyway lessons learned, so next time i will perform better i hope
Thomos sir.....thank u very much❤
2:38 You are talking about a First Entry Long. The two previous matching highs define a new high. The sequence is : outside red bar, inside green bar with double top, , outside green bar. The outside bar is not an engulfing bar. I would buy (literally) the outside bar if that bar would close above the high of the previous bar. But it did not. Conclusion: It is a FEL at a price level of "congestion" (high volume) causing "barbed wire" (Al Brooks...).
today was the easiest day of my month
Definitely easy compared to last three days. Finally we had a break. Last three days were tough, which is not that common. It is normal to get bad day or two but this week was hard.
great info sir bec everyday when i m trading banknifty index (india) came across same situations like triggering 2nd entry short then immeadiately 2nd enrty long..
12:52 I'm pretty confident an anchored VWAP would have given you the entry short that the MA didn't
I’m looking to educate myself more on swing trading then daytrading. I like your content, very easy to follow. I’m a Visual guy so this method is awesome for me. thank you! That being said do you have swing trading: one day time-frame charts that you analyze?
I mainly focus on scalping. You can of course trade even higher timeframes but as a swing trader you need adjust your trading and money management.
Reason why are you not getting a perfect 2nd entry short touching EMAs is because you may be using wrong EMA. You should use 10 to 14 bar EMA for this. not 21.
I tried those, you can get lot of fakeouts with those because market will correct more. I still prefer 21.
I'm too interested but I'm more on books, cane you give me the your top 3 books for action price?
What is the time frame and the moving average that you’re using? Great class!
I use 2000 tick chart and 21 bar EMA.
Thanks for the great info. One question - sometimes you mention that a 2nd entry long (for example) was good to take because the 2nd leg down was lower than the first, therefore the down correction is over, yet other times the 2nd entry long is taken when the 2nd leg correction is not lower than the first. Are both OK to take in your opinion, or is there some other determining factor involved? Thanks
Both are good. The reason why sometimes the secnd leg is not lower is because key entry point is holding prices which means sellers cannot push market lower.
Hello I love your videos and am learning so much of REAL trading after falling for many indicator traps haha. I have a question. In many of your videos you say things like at 5:40 "According to price action rules" And i hear a lot of them and its kinda overwhelming for me, do you have some article or video or list of all the "price action rules"? I'd greatly appreciate it Thank you :))
Hello, my most popular video on the channel covers price action rules. I recommend watching several the most popular videos.
@@ThomasWade Okay thanks a lot I will check them out :)
Thanks for sharing. What TF and EMA are you using?
I use 2000 tick chart and 21 EMA.
14:33 i took this trade, i lost it and took the second one right away
Thomas, Since I have seen your videos, I have noticed these patterns and set-ups in trading penny stocks and am so surprised to see how often I see them. Would you say these patterns are intended more for forex, or stocks?
It works everywhere but I prefer futures, stocks. Forex has spreads, not regulated etc..
Great videos! Does this price action apply to crypto charts??
Price action is universal but I haven't traded crypto long enough to fully confirm. Personally not a fan of crypto.
Good teachings here. What is the period of the EMA you use?
21 bar EMA.
If the setup works, where do you exit; how do you take profit when you're in profit from the setup ?
@@saidelance1 I scalp 8-10 ticks.
At 12.58 you have doble top, why dont you enter short, when you have this reverse pattern?!
Please on which timeframe did you make this analysis?
I trade 2000 tick chart. 1-5 min are also great.
Plz tell best timeframe for this price action and is it 21 Ema line working in this chart? Plz reply ❤🎉Thanks
I trade 2000 tick chart. 1-5 min are also great.
@@ThomasWade Thanks❤️
The lines and alphabets are to light that can't seen on mobile screen...please dark them
Hi, you have a videos or pdf about this strategies beginner to pro
Hi, unfortunately I don't.
@@ThomasWade your strategies can apply also in crypto trading
what timeframe did you use in this vid?
I trade 2000 tick chart, similar to 1 minute chart.
I see you are applying the price action on short time frame, my qn is: is that also valid for hight time frame: i.e. monthly, weekly, daily and 4 hrs, tnx..
It does work but you may wait very long time for a good setup. High probability setups take time to develop, this is why I trade smaller timeframes.
your accent is cool where are u from?
Czechia
And wat ema are u using
21 ema
What broker do you use?
Ninjatrader. AMP Futures.
whats the ema parameters?
21 EMA.
Which MA is used here?
21 bar EMA.
Wat time frame are u using ?
2000 tick chart, its not time based.
2000 tick chart, similar to one minute chart. 21 bar EMA.
Are you not missing quite a lot of swing points by not taking the risk of a loss.?
Taking the risk of a loss? I don't quite understand. Could you please elaborate?
@@ThomasWade I mean taking some setups that are related to momentum and can fail. So taking the risk og a loss but with a money management that allows a bigger gain
@@mauriceamaraggi8098 Big momentum candles tend to make your SL much bigger. I don't like it personally. I like to wait for the pullback.
ES or MES
ES
I would not say this is SIMPLE as in title. It reminds me of learning the German language. There are more exceptions to the rule, than the rules themselves.
The language as a whole still functions based on concrete rules though.
Too fast explaining, hard to follow too many factors to keep track at this pace. Trading is a difficult skill, Teaching is even harder.
I recommend watching my the most popular videos on my channel. They are more for beginners.